Many remember Paris Hilton as the socialite of the early 2000s. Fewer know what she’s up to today. Even fewer know that Paris Hilton has actually sold an NFT for more than $1 000 000. Not only that, she is also pushing for more women in the world of NFTs through her social channels. As a result, Forbes, named Paris Hilton one of the fifty most influential people in the NFT space.
So it’s safe to say she hasn’t gone MIA, but is still very much active, just in a different community. But how did she get into NFTs, and how is it that she’s raking in big dough from it? NFThly is here to answer!
NFTs, or non-fungible tokens, have certainly taken the celebrity world by storm, with celebrities flocking to cash in on the frantic digital gold rush. Akon recently announced he would be releasing his music as NFTs, and many others are following in the footsteps of their peers. So, how did assets that can only be seen on a screen become the world’s most hyped investment?
How the NFT craze started
NFTs, which were previously the domain of geeks, first appeared in 2012 and are digital certificates of “ownership” of the likeness of an artwork, a video, or even a tweet, which are purchased with cryptocurrencies, or non-regulated digital currencies. They are kept on a blockchain, which is a digital ledger.
Fungible means interchangeable, as in money — a $10 note can be exchanged for food, beer, or whatever — whereas an NFT is Non-Fungible, which means it cannot be changed from the physical asset it represents, such as an artwork.
However, the tokens can be bought and sold like a house or a car, though they don’t exist in the real world, and there is nothing to stop the creation of more NFTs with identical digital files.
How Paris got onboard the NFT hype train
Paris Hilton first got involved in the world of non-fungible tokens back in 2019. This was when she created her first NFT which she later sold in March 2020 giving away the proceeds to charity. This resulted in her winning “Best Charity NFT” at that year’s NFT awards ceremony. With that success in the bag, she launched her own NFT collection in April 2021. This one was called “Iconic Crypto Queen” and sold it for $1.1 million in ETH.
Recently, the socialite joined NFT platform Origin Protocol as an investor and strategic advisor to assist people in minting their own NFTs and selling them on the platform.
But she’s a collector too. Hilton told The Guardian that she owned more than 150 different NFTs and she seems passionate about them.
That passion is building her quite a following. From her Twitter feed, it’s easy to see another, more passive, source of NFT income. Gifted NFTs. NFT creators wants the exposure that Paris gets, which is why they gift her free NFTs so that it gives the entire collection a bit of free marketing. Below is an example of where she highlights her Ethereum address to receive a newly minted NFT, completely free of charge.
Not just NFTs, Hilton is big in crypto and meta as well
While Hilton hasn’t disclosed how much she has invested in crypto, she has said she started investing in both Bitcoin and Ether in 2016. At the time, one bitcoin was valued at around $1,000 and one ether was priced around $10. Today, they’re worth more than $36,000 and $2,400, respectively.
Hilton told The Guardian in November that she became “friends” with the founders of Ethereum, the decentralized computing platform that generates Ether, the currency in which the majority of NFTs are traded. Even in the midst of a recent cryptocurrency market selloff, in which both Bitcoin and Ether lost roughly half of their market value from their all-time highs in November, Hilton remains bullish.
Paris Hilton on the Jimmy Fallon Show reveal their Bored Ape Yacht Club NFTs
The conversation continues for a while longer until Fallon pulls out his own NFT, eliciting some laughter from the audience. “It reminded me a little bit of myself,” Fallon said, desperately trying to fill the silence. Finally, he placed the photos next to each other and said, “They’re buddies,” at which point someone presumably turned on the “Applause” sign, the crowd applauded, and the clip mercifully ended.
Paris then continues by talking about her upcoming NFT releases. One in particular called “My forever fairytale” that she’s especially proud over as she’s been did “by hand, it took me six months” she proclaimed before saying Jimmy gets the first one minted. This was followed by applause, but before they faded out she announces that the entire audience will get one NFT each from this latest collection. The applause intensifies before Jimmy decides it’s time for a commercial break. After that Paris has her dog with her and that pretty much rounds off the interview.
Active role in the community
It’s clear that Paris Hilton is looking to actively participate in the NFT community and push the general adoption forward.
Decided I need to add more to my #NFT collection this week! I want to add more female-led projects. What should I add? SparklesTwo heartsSparklesTwo hearts #WomeninNFTs 🖼Paris Hilton in a recent tweet
Even though she’s not the front page queen she was back in the Paris and Nicole peak days, Paris Hilton is certainly a big name in the world of global celebrities. So, regardless of you think the NFT craze is about to peak out like The Simple Life did – it is safe to say that celebrities across music, film, and social seem to think it’s really only the beginning and that’s why they are buying in in droves.
Paris is making a lot of money from this movement. She’s betted big on a large number of NFTs. She’s almost on a daily basis gifted NFT Art by her following and on top of that, she’s invested in Cryptocurrency and the Metaverse.
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